The Consumer Price Index (CPI) soared in October to 6.2 percent, according to new number released today, signaling the highest inflation rate since 1990.
As CNBC reports:
Inflation across a broad swath of products that consumers buy every day was even worse than expected in October, hitting its highest point in more than 30 years, the Labor Department reported Wednesday.
The consumer price index, which is a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2% from a year ago. That compared to the 5.9% Dow Jones estimate.
On a monthly basis, the CPI increased 0.9% against the 0.6% estimate.
Stripping out volatile food and energy prices, so-called core CPI was up 0.6% against the estimate of 0.4%. Annual core inflation ran at a 6.2% pace, compared to the 4% expectation and the highest since November 1990.
Fuel oil, used car prices and food costs were all significant contributors to the rise.
The numbers are likely to undermine the recent claims from the Biden administration that inflation is merely a transitory event.
Only temporary. Just like Socialism in U.S.A.
CPI is up 6.2%. SS benefits are going up 5.9%. Here’s a great big “Thank You” to all the Damnocrats: Let’s go Brandon!!!
Wait until you see how much of these new SS benefits will go into paying for mandatory increased Medicare part A and B costs next year.
One zero dolares.
Correction: latest # is two one pt six
Exactly!!!!!!!!!!!!
LETS GO BRANDON!!!!!
I have made three attempts to provide information on the Part A and B deductions and AAN has deleted each one. AAN, what are you afraid of?
Bidinflation, slo Joe policies are directly responsible for the countries problems, especially high prices for all consumer goods.
And it’s only going to get Worse.
But according to that ‘zombie-albino’ lib-turd, Yellen at Joe’s Treasury, “inflation is only transitory”…like genders❓
Joe Biden, the Schmuck in Chief and all his appointed little schmucks are clueless, e.g., transportation, energy, CDC, etal!
……and giggles Kamala!
Things are going exactly as planned. Communists can’t succeed unless most of the people are poor, stupid and unarmed.
Can’t fix stupid.
Is this renamed the United socialist screws up republic?
Was Biden awake when they told him. He doesnt care either way. They still cant figure out why the gas prices are so high. Gives an idea of how far up their heads are planted
All because of poopy pants love of the CCP
Joe don’t know what inflation is ? He thinks it’s something to do with passing gas at Camelia! He doesn’t know what day it !
If gasoline and food can be stripped out of the CPI because the government considers these commodities volatile; then I would like to make the suggestion that the citizens mandate that all politicians and deep state bureaucrats not be allowed to purchase gas and food, so long as these commodities remain inflated. We will then see if they continue to be stripped from the CPI for inflation computations!! Let’s hope that what is transitory in all this mess is Biden and his administration.
Miss Trump yet?
JOE GOTTA GO!
JOE IS SCREWING US ALL.
Joe can’t screw anyone. He can only fondle.
This inflation is only transitory except with one caveat, there is no end in site until Joe Biden is out of office. So All that voted for Joe Biden, this is what you voted for so you must be thrilled. I would like to know what good this inflation is going to do except to make the national debt look lower in comparison, meanwhile 90% of Americans will lose in this translation, but since the Dems want to be in total control of your lives this will do it as you will need the government for handouts if you can’t keep pace with inflation. That is the plan to bury enough Americans that they will be beholden to the government to stay alive. This is the New Deal, Biden’s version of it, and you will all wish you had not put him into office when it is all over, hopefully it isn’t too late to save you.
Transitory event my rear end. He planned yhos to hirt Americans and the economy. Je ia a thief so it doesn’t bother him. He is a total socialistic piece of trash.
Imagine what it would be if gasoline and groceries weren’t removed from the CPI by a self serving president who wanted to make things look like they weren’t so bad…
Thanks retard Joe. You brain dead moron